(Image for representation only)Myntra.com is in advanced negotiations with premium US lifestyle products company Ralph Lauren for an online exclusive deal in India, according to two people familiar with the discussions. One of the persons said an agreement is expected as early as this week or the next.

Both Myntra and Ralph Lauren did not respond to ET's queries on the matter until the publication of this report. Sources said that the New York-based fashion house Ralph Lauren is looking to sign two different dealers for its products in India - one each for the online platform and brick-and-mortar stores.

ET reported last month that the US company, which sells fashion and accessories for men, women and kids, is in negotiations with Aditya Birla Fashion and Retail to allow the Indian company open Ralph Lauren-branded brick-and-mortar outlets through a franchisee agreement.

The first store for the New York based fashion giant, which was founded 50 years ago, is likely to open at the Emporio in Chanakyapuri, located in New Delhi's diplomatic enclave. Back home in the US, Ralph Lauren is going through a rough patch and is closing outlets there and reducing its manpower as part of a turnaround plan.

Myntra, the country's largest online fashion retailer that was acquired by Flipkart for $300 million in 2014, sells a host of global brands such as Nike, Puma, Levis, Wrangler, Arrow, Diesel, CAT, Harley Davidson, Ferrari, Timberland, and US Polo on its platform.